HAWERA DAIRY COMPANY.

Taranaki Daily News, 3 September 1917, Page 2

HAWERA DAIRY COMPANY.

ANNUAL MEETING. 'j The twenty-second animal meeting of tile Hawera Hairy Company was held at Hawera on Saturday, Mr. 11. Spratt (chairman of directors) presiding over an attendance of about SO suppliers. ■REPORT AND BALANCE-SHEET. The report states that additions and alterations to the Tokaora factory now •in progress will enable the factory "to accommodate double the amount of milk. Unfortunately the Tawhiti factory was totally destroyed by fire in March last. A new ten-vat factory is now in course of erection on a site near the corner of tlie Ohangai and Ararala Roads. Regret was expressed at the death of Mr. J. A. Turton, who had been secretary of the company for over eleven years. The directors place on record their very keen appreciation of the valuable services rendered by Mr. Spratt to the company. Last season's fina>l payment for butter-fat brought the total pay-out up to Is 'J 5-16 d. This season Is (Id has been paid to date, over the cheese-making season, ami Is 4d for July-August, and 1 from March 20th to end of June, the buttermaking period. The final distribution will take place on receipt of the balance of money due from the Imperial Government). The season's output of cheese, 1317 ton 3, shows a decrease of 2SO tons on that of the previous year, whilst but« tcr shows an increase of 54 tons. Statistics given are as'follows:—Lb of milk received 32,500,019, lb of butter-fat 1,258,617, average test 3.80 Used for cheese-making.—Lb of milk 29,205,715, l'o of butter fat 1,100,874, lb cheese made (1317 tons 11 cwt 2 qr 121b) 2.951,380, lb of milk to make lib cheese 9.59, lb of cheese, from lib butter-fat 2.G6G, average test 3.79, cost of manufacture .77d, cost of manufacture (including depreciation) .87d, cost per lb f.o.b. (including depreciation) 1.013 d, cost f.o.b. .92d. Used for butter-making.—Lb of milk 3,300,904, lb of butter-fat 1.~>1,743, lb of butter imade (79 tons 2 cwt 0 qr 111b) T77;K)5, | over-run 10.77, average test 4.51, lb of milk to make lib butter 18.90. i The total receipts for the season are | shown as £137,852 lis 9d, tho principal items being cheese £117,204 7s lOd, butter £1i),309 10s, casein £BSO 0s Sd. The principal items of expenditure are: Crates and boxes '£l7oo 09 2d, fuel '£loß4 IDs sd, wages £5005 10s 3d, requisites £1770 10s Sid, repairs £599 4s 2d, depreciation £llOO, butter fat levy '£3740 Ss 2d, charges, cartage, freezing, etc., '£ooff 4s lid. £91,379 Is 4d 'had been paid out to suppliers and there was f a balance of £23,253 2s 9d to bo dealt with. CHAIRMAN'S ADDRESS. The chairman congratulated sbareholders on another successful season. It was intended that day to pay out an extra 2d on tho butter-fat manufactured into butler, so as to make it equal with the payment on cheese. A further Id would also be paid out on all butter-fat, making Is 7d so far. When tho final pay-opt was made their total payments would amount to Is bid for the season, and lie did not think anyone would have anything to say against that. In addition, the directors, recognising it was a good

year, liad written £Ufil) depreciation, off the four branches. They had been put |to considerable expense in re-building ! the Tawhiti factory, which had been destroyed by fire, and to do this thoymusfc.' have finance. .Suppliers, however, would 'not be asked to take up one extra share; nor would the basis of shares be altered from one share to every 1201b of butterfftt, but suppliers would be asked to sign a fresh bond with the hank for double the amount of shares they held. TheIs lid represented what would beactu-, ally paid out. They had not, as somo" companies- did, included the buttcr-fat| levy in calculating their pay-out, because this was calculated to deceive. They would only pay out what they had, and the : ;: t d butter-fat levy had already been paid away. Mr. Jarvis seconded. To a supplier, the chairman stated that the Is lid would apply to both 'butter and cheese. Mr. Dawson asked whether anything had been dono about storage. The chairman stated that the directors were endeavoring to obtain a building and put in a freezer, which would be necessary if the cheese had to bo 'kept down to 47 or 50 degrees, as required by the Government before it could be declared a grading store. It was only during the past few days that they had been informed it would be necessary to keep the temperature below -60 degrees. Mr. iMilla stated that arrangements had been made to again utilise the Winter Show buildings, hut the latest pronouncement of the Department had altered their plans. With four directors retiring it was not considered advisable to rush matters. Mr. J. R. Corrigan stated that a proposal was on foot with a view to insulating the now Kitchener hall at the Winter Show 'buildings and installing a 7-ton, freezer. If this were done it. should eater for the needs of the whole district. The chairman stated that their store at the station would hold about five week's' supply. Mr. Dunlop understood there was to be a meeting of South Taranaki dairy factories to consider the question of storage, as the latest pronouncemerit'of the relative to cold storage had upset all their calculations. The report and balance-sheet were then adopted. ELECTION OP DIRECTORS. Of the four retiring directors, Messrs' TT. Spratt, .las. Dunlop, L. Kavanagh, and J. K. Corrigan, the last-named was the only one to seek re-election, and tho election resulted as follows: —Messrs A. R. R. Tierce (Glover Road) 31G, A. L. Campbell (Fraser Road) 287, J. R. Corrigan (Tawhiti) 2/1, G. A. Murphy (Wharcroa) 237, elected; Jas. Bafkla (Tawhiti) 232. Mr. 11. A. Lennori was re-appointed auditor at a fee of 20 guineas. THE SAVING OP VELLS. The chairman urged all who killed Calves to save the veils, in view of the establishment of the rennet factory and the shortage of rennet. The company was paying 2s -6d for first-grade veils' and were receiving Is fld from the Rennet Co. A supplier suggested that the price paid should be os for first grade veils. This would encourage the suppliers to save their veils, and would slightly penaliso those that did not save veils. All suppliers benefited by' the rennet. It was decided to pay as for first grade, 2s Cd.for second, and Cd for third. GENERAL. Mr. Rudkin asked whether dry shareholders could obtain butter at the factory. The manager stated that owing to having previously made some bad debts, Gutter was not supplied from the factory to'' anyone but a supplier. Mr. Jarvis considered that a dry shareholder, if he received butter, should pay the current market rate. The chairman agreed with this. Mr. Rudkin pointed out that the share-milker could obtain his butter,,and he did not think that a shareholder who had given up fanning should be penalised. No other business penalised its shareholders. The subject then dropped. Mr. Patterson asked on what basis shares were allotted. Ho stated ho had been allotted 117 shares in the middle of the season, but on the basis adopted his quota of shares should be flO. The chairman pointed out that the shares for the first season were allocated in January on double the quantity of milk received to that date. Any adjustment would be made the following season. ' It was resolved to vote tho directors los per day, an amendment that it be £1 per meeting being lost. : The chairman was voted an honorarium of 100 guineas.